Royal Mail shares continue to slide for the second consecutive day after analysts voiced concerns over the delivery group’s prospects.
The Royal Mail stock price is currently down over 2% after an hour of trading at 422.20p.
In the previous session, shares tumbled by nearly 5%.
The former government owned delivery service’s stock price is being hit because of a hefty downgrade by JPMorgan.
The investment bank said that “near-term consensus earnings estimates, lack of guidance and increased competition” would weigh on Royal Mail and therefore cut its rating from overweight to neutral.
Here’s the five-day chart:
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